Sullivan & Cromwell has been appointed to act alongside Simpson Thacher Bartlett on the US initial public offering (IPO) of Chinese e-commerce giant Alibaba. Sullivan has taken a role advising the sponsors on the listing, which Alibaba confirmed last week would take place in the US. The internet giant chose not to list in Hong Kong due to rules in the Asian financial hub which prevent managers from having more voting rights than normal investors.
March 17, 2014 at 09:03 PM
1 minute read
The original version of this story was published on Legalweek
Sullivan & Cromwell has been appointed to act alongside Simpson Thacher Bartlett on the US initial public offering (IPO) of Chinese e-commerce giant Alibaba.
Sullivan has taken a role advising the sponsors on the listing, which Alibaba confirmed last week would take place in the US. The internet giant chose not to list in Hong Kong due to rules in the Asian financial hub which prevent managers from having more voting rights than normal investors.
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